Interest rates went down this week to 4.625% for a 30-year fixed rate. This is a significant drop from where they were a few weeks ago.

Mark Hamrick, Bankrate.com’s senior economic analyst, says we can chalk some of this up to volatility in the financial markets in general—including the ongoing debate and confusion over the future actions of the Federal Reserve and the plight of U.S.-China trade discussions. Hamrick says. “All of this suggests that volatility is here to stay.”

For borrowers, this provides an opportunity to lock in on a lower rate. If you have been looking to buy now is a good time to contact your mortgage lender.

Here are this week’s numbers:

HOBOKEN:Studio/ 1-BedroomsNew Listings:5 new listings. The average price is $652,597 and the average price per sq/ft is $878.Sold Properties:2 properties closed. The average price was $612,500 and the price per sq/ft was $715.

2-BedroomsNew Listings:14 new listings. The average price is $802,778 and the average price per sq/ft is $722.Sold Properties:9 properties closed. The average price was $728,325 and the average price per sq/ft was $670.

3-BedroomsNew Listings:5 new listings. The average price is $1,518,799 and the average price per sq/ft is $899.Sold Properties:2 properties closed. The price was $1,219,500 and the price per sq/ft was $679.

4-BedroomsNew Listings:4 new listings. The average price is $2,202,115 and the average price per sq/ft is $892.Sold Properties:No sold properties.

Single-Family HomesNo new listings.Sold Listings:1 four-bedroom home sold for $1,300,000.

DOWNTOWN JERSEY CITY:
Studio/ 1-BedroomsNew Listings:2 new listings. The average price is $562,777 and the average price per sq/ft is $789.Sold Properties:5 properties closed. The average price was $632,000 and the average price per sq/ft was $755.

2-BedroomsNew Listings:9 new listings. The average price is $1,070,720 and the average price per sq/ft is $881.Sold Properties:4 properties closed. The average price was $727,625 and the average price per sq/ft was $683.

3-BedroomsNew Listings:1 new listing. The price is $1,100,000 and the price per sq/ft is $799.Sold Properties:1 sold listing. The price was $1,610,000 and the price per sq/ft was $814.

Single-Family HomesNew Listings:No new listings.Sold Listings:One three-bedroom home sold for $399,000.

JERSEY CITY HEIGHTS:Studio/ 1-BedroomsNew listings:2 new listings. The price is $329,000 and the price per sq/ft is $464.Sold Properties:No sold properties.

2-BedroomsNew Listings:1 new listing. The average price is $650,000 and the average price per sq/ft is $541.Sold Properties:No sold properties.

3-BedroomsNew Listings:8 new listings. The average price is $725,257 and the average price per sq/ft is $520.Sold Properties:1 sold property. The price was $645,000 and the price per sq/ft was $437.

Single-Family Homes:New Listings:
Two three-bedroom homes listed for $499,000 and $649,000 and a five-bedroom sold for $699,000.Sold Properties:One three-bedroom home sold for $599,000.

JOURNAL SQUARE:Studio/ 1-BedroomsNew Listings:No new listings.Sold Properties:2 sold properties. The average price was $329,000 and the average price per sq/ft was $464.

2-BedroomsNew Listings:2 new listings. The average price is $494,000 and the average price per sq/ft is $381.Sold properties:1 sold listing. The price was $305,000 and the price per sq/ft is $262.

3-BedroomsNew Listings:8 new listings. The average price is $725,257 and the price per sq/ft is $520.Sold Properties:1 sold property. The price is $645,000 and the price is $437.

Single-Family Homes:New Listings:One new three-bedroom home listed for $599,000 and three four-bedroom homes listed for $629,000, $749,000 and $849,000.Sold Properties:One three-bedroom sold for $487,000 and a five-bedroom sold for $420,000.

*****************Ann Wycherley is an award-winning realtor with over 15 years of solid real estate experience in the Hoboken and Jersey City market.

She has been recognized by the New Jersey Realtors Circle of Excellence for many years, having earned the Gold Level of Excellence 2015-2017, meanwhile awarded Lifetime Membership in the New Jersey Association of Realtors Distinguished Sales Club.

Other accolades include the coveted Centurion Award for the past five years running (2012-2016), which represents the premium level of achievement within the Century 21 organization.